And why did the UK accelerate it's purchase of US $ debt in December when China reduced its holdings of $? This at a time when the UK is virtually bankrupt itself.

So Gordo is having the UK fall on its sword to help out his little pal in the Whitehouse who has already told him that he cares nothing about him. Its like a bad scene from a trash Drug Store Romance paperback

That's a great question. However, it was framed by me. Of course, I don't mind you asking it, but you coukd have changed the words around a bit, or at least acknowledge the source (i.e. me).

A total and exact quote, without the reference to the original poster, seems a bit shameless.

But still, I'd love to know the answer.

Hi!

Possibybecause the English are so stupid?

You supported them in the war in Iraq (support the Hawks) and what do they you give back in return? An hour long wait at immigrtion.....Full body scans because.... the US is always paradoid.

But when the IRA were funded by your NY supporters..... I guess that was ok?

Peace!

[edit on 14-3-2010 by The Wave]

Originally posted by The Wave
Hi!

Possibybecause the English are so stupid?

You supported them in the war in Iraq (support yhe Hawks) and what do they you give back in return? An hour long wait at immigrtion.....Full body scans because.... the US is always paradoid.

But when the IRA were funded by your NY supporters..... I guess that was ok?

Peace!

What an ignorant, racist comment.

May I also suggest you use a spell-checker. It would at least give the impression you are educated.

It is not the "English" (you need a cap at the start) who bought the debt. It was the British government. Indeed, as far as I am aware, the British people are unaware of the levels of US debt that they have paid for. Certainly, the increase in dollar holdings to offset the Chinese dumping was not reported in the media.

And this cannot have been a recent development. To be the third largest holder of debt, this must have been going on for some time.

Britain only recently finished paying off lend-lease (i.e. American funding for the British to fight Hitler). Why did the UK govt. pay all that off, when they could have just sold their dollars?

The plot thickens.

Is anybody aware of a historical record of foreign US$ debt holdings over the last thirty years or so?

One explanation for the UK govt. using British public money to shore up the US$ is that it is trying to stabilize the world financial system. It is interesting that it was not reported.

Another possibility is that the British govt. are pilfering the pockets of the people. Basically they are funneling good money into the pockets of the wealthy for toxic dollar debt.

The American govt. is doing the same to the US people via bank bail-outs and wars. Are the US and UK govt.s paying the same piper?


[edit on 14-3-2010 by rizla]

I figured that since the UK is already in so much debt, they probably bought more US securities as a way to divert some of the blame when their economy and currency finally crashes. They can say "Look, it was the fault of the Americans, they did this to us by destroying their own economy and currency that we invested in!"

I'm surprised China is still even extending us credit. We've had quite a party at their expense, haven't we. We've lived quite high on the hog, taking advantage of their cheap desperate to work starving slave labor wages. And if that wasn't bad enough, we got them to take IOUs for all of it too, HAR! Man, will the joke be on THEM when we crash and proclaim we can't ever hope to pay off any of them IOUs! What do you suppose all them angry unemployed and now poor and broke and jacked Chinese will do when they finally realize we've ripped them off with our cheating funny fiat money ponzi scam? Hum? The whole world is going to be pretty mad at the good old defunct US of A when they realize we've jacked them all and nothing except the land under our feet to offer them all.

Originally posted by DivinorumusWhat do you suppose all them angry unemployed and now poor and broke and jacked Chinese will do when they finally realize we've ripped them off with our cheating funny fiat money ponzi scam?

Eat Chinese govt. bullets, I expect.

It is hard to see how Gordo could be leading the UK down a worse road.